Hyster-yale materials handling announces third quarter 2021 results

Cleveland, nov. 2, 2021 /prnewswire/ -- quarter highlights:   q3 2021 bookings increased 63.4% over q3 2020 levels, but were down 20.9% from q2 2021 record levels as the global lift truck market moderated q3 2021 revenues increased 14.7% over q3 2020 due to a 12.6% increase in shipments despite improved shipments and record backlog levels, q3 2021 production and shipments continue to be severely disrupted by component availability q3 2021 consolidated operating loss of $54.3 million due to the following: at the lift truck and bolzoni businesses, material and freight cost inflation and manufacturing variances driven by component shortages and higher operating expenses resulting from the elimination of cost containment actions put in place in 2020 at nuvera, inventory and fixed asset adjustments totaling $24.8 million were recorded in q3 2021 due to reduced near-term sales prospects. q3 2021 consolidated net loss of $77.2 million includes a $38.4 million charge to establish a valuation allowance primarily on certain u.s. deferred tax assets, as well as the after-tax impact of the nuvera adjustments hyster-yale materials handling, inc. (nyse: hy) today announced consolidated revenues of $748.2 million, an operating loss of $54.3 million and a net loss of $77.2 million, or a loss of $4.59 per share, for the third quarter of 2021 compared with consolidated revenues of $652.4 million, operating profit of $7.3 million and net income of $5.1 million, or $0.30 per share, for the third quarter of 2020.
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